Point72 Europe London LLP Sells 5,484 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Point72 Europe London LLP lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,316 shares of the financial services provider’s stock after selling 5,484 shares during the period. Point72 Europe London LLP’s holdings in The PNC Financial Services Group were worth $8,445,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after acquiring an additional 1,978,854 shares in the last quarter. Capital Research Global Investors increased its stake in The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in The PNC Financial Services Group by 4,040.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock worth $62,878,000 after buying an additional 396,252 shares during the last quarter. Jennison Associates LLC raised its holdings in The PNC Financial Services Group by 38.4% in the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after buying an additional 291,769 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after buying an additional 262,654 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.3 %

Shares of The PNC Financial Services Group stock opened at $184.62 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $73.39 billion, a PE ratio of 15.50, a P/E/G ratio of 2.03 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $187.78. The company’s fifty day simple moving average is $177.58 and its 200-day simple moving average is $163.53.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.36 earnings per share. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.47%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $167.50, for a total value of $208,035.00. Following the transaction, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at approximately $94,368,662.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold 25,864 shares of company stock valued at $4,551,485 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PNC shares. The Goldman Sachs Group reduced their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Citigroup lifted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Barclays upped their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $176.90.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.